Investing.com - Banking conglomerate Citigroup (N:C) reported better than expected third quarter earnings on Thursday, sending its shares higher in pre-market trade.
Citigroup said adjusted earnings per share came in at $1.31 in the three months ended September 30, above expectations for earnings of $1.27 per share and up from 95 cents in the year-ago period.
The bank’s third quarter revenue totaled $18.7 billion, beating forecasts for revenue of $18.58 billion and compared to revenue of $19.7 billion for the third quarter 2014.
Michael Corbat, Chief Executive Officer of Citigroup, said, "The quarter had more than its fair share of volatility and our results speak to the resilience of our franchise globally."
Immediately after the earnings announcement, Citigroup shares rose 2.52%, or $1.33, in trading prior to the opening bell to hit $52.05 from a closing price of $50.72 on Wednesday.
Meanwhile, U.S. stock futures pointed to a higher open. The Dow futures rose 78 points, or 0.47%, the S&P 500 futures tacked on 15 points, or 0.72%, while the Nasdaq 100 futures advanced 36 points, or 0.83%.